Marbridge Daily

<- May 25, 2012 ->

NetDragon Q1 2012 Profit Up 61% YoY

PR Newswire, 5/25/12

Fuzhou-based online game developer and operator NetDragon Websoft (0777.HK) today announced its unaudited financial results for the three months ended March 31, 2012.

First Quarter 2012 Financial and Operational Highlights

• Revenue was RMB 237.0 mln, an increase of 9.1% over the fourth quarter of 2011 ("QoQ") and an increase of 51.2% over the first quarter of 2011("YoY").

• Revenue from Online Games was RMB 191.6 mln, a decrease of 0.5% QoQ and an increase of 27.2% YoY.

• Revenue from Mobile Internet was RMB 45.4 mln, an increase of 84.1% QoQ and an increase of 644.3% YoY.

• Gross profit was RMB 208.7 mln, an increase of 10.5% QoQ and an increase of 46.8% YoY.

• Operating profit was RMB 64.1 mln, an increase of 138.3% QoQ and an increase of 69.8% YoY.

• Profit attributable to owners of the company was RMB 55.8 mln, an increase of 609.5% QoQ and an increase of 61.1% YoY.

• Basic earnings per share were RMB 10.88 cents, diluted EPS were RMB 10.87 cents.

• Peak concurrent users ("PCU") for online games were 600,000, a decrease of 2.0% QoQ and an increase of 9.9% YoY.

• Average concurrent users ("ACU") for online gameswere 297,000, a decrease of 4.2% QoQ and an increase of 20.7% YoY.

First Quarter 2012 Business Highlights

Online Games

• NetDragon launched the EP "Invasion of Pirates" for the martial arts MMORPG, Conquer Online, in French, Spanish, Arabic and Traditional Chinese.

• NetDragon launched new Malaysian version EP "Demon Rising" for its 2.5D Fantasy MMORPG, Eudemons Online.

Mobile Internet

• 91 PC Suite, NetDragon's applications distribution platform for all mainstream operating systems, exceeded 75 mln total users. And total users for HiMarket, NetDragon's Android applications distribution platform, exceeded 21 mln. As of March 2012, total aggregate downloads over both marketplaces surpassed 5 bln.

• NetDragon's in-house developed mobile games, Dragon Royal Online and HengHa Warring States, as well as jointly-operated mobile games, such as 91 Immortal and 91 Richistan, were officially launched in the first quarter.

Recent Developments and Business Outlook

Online Games

• Eudemons Online's new Chinese EP "Legacy of Asgard" was officially launched in April 2012. The EP hit a record high in monthly revenue during the beta in March 2012.

• NetDragon's first 3D MMORPG Dungeon Keeper Online entered open beta testing in April 2012.

• NetDragon's 2.5D Sci-Fi MMORPG Zero Online launched its new Chinese EP in May. This revolutionary new EP introduced an entirely new copy task, enabling players to readily have a more sophisticated playing experience as well as enjoy the fun of a single-player game.

• iPad based Conquer Online will release additional language versions in a move to further expand its presence on tablets.

Mobile Internet

• NetDragon announced the launch of its nationwide developer program "91 Win Matrix", inviting developers to join the 91 Open Mobile Platform for mobile innovative applications development. NetDragon will provide developers with comprehensive support, including technical, operational, financial and brand cooperation.

• "91 Kid Applications", a platform within 91 PC Suite, which focuses on recommending mobile applications for children and for mothers as a tool for interacting with their toddlers, was officially rolled out. This is NetDragon's first formal foray into the market segment for childcare products.

• NetDragon, together with DeNA Co., Ltd., Japan's leading social gaming platform operator, signed an agreement with Jiangyin National High-tech District Administration Committee in Hong Kong. This joint venture company will localize non-Chinese social games, including a roster of DeNA Group's popular in-house developed and third party titles, for the growing smartphone market in China.

• NetDragon will keep enriching games, applications, themes, ringtones, wallpapers, and other contents on our mobile internet platforms. With more efforts on analyzing data, distributing more customized and personalized contents, NetDragon will provide smartphone users with more valuable services.

To view NetDragon's complete earnings report, please click here.

 
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